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Kings to Seattle

Discussion in 'NBA Dish' started by Arthurprescott2, Jan 9, 2013.

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  1. redhotrox

    redhotrox Member

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    <blockquote class="twitter-tweet"><p>Just going online now: Maloofs have struck deal to sell 65 percent of Kings to Chris Hansen group in Seattle for $525 million, sources say</p>&mdash; Marc Stein (@ESPNSteinLine) <a href="https://twitter.com/ESPNSteinLine/status/293207500898045952" data-datetime="2013-01-21T04:04:50+00:00">January 21, 2013</a></blockquote>
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    <blockquote class="twitter-tweet"><p>Kings deal to Seattle group still requires formal NBA ratification but Hansen group intends to file forrelocation by March 1 if approved</p>&mdash; Marc Stein (@ESPNSteinLine) <a href="https://twitter.com/ESPNSteinLine/status/293208230904086528" data-datetime="2013-01-21T04:07:44+00:00">January 21, 2013</a></blockquote>
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    <blockquote class="twitter-tweet"><p>ESPN sources say no agreement yet reached on remaining 35 percent of Kings shares, which are held by minority investors, NOT Maloofs</p>&mdash; Marc Stein (@ESPNSteinLine) <a href="https://twitter.com/ESPNSteinLine/status/293209391874834432" data-datetime="2013-01-21T04:12:21+00:00">January 21, 2013</a></blockquote>
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    #161 redhotrox, Jan 20, 2013
  2. Icehouse

    Icehouse Member

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    "Sources" say Maloof's keep 35%.

    Edit: Looks like other folks own the 35%. Has a sale like that ever happened in the NBA before?
     
    #162 Icehouse, Jan 20, 2013
  3. redhotrox

    redhotrox Member

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    I don't think those numbers are right or else it means the Kings franchise is worth over $800 million...
     
    #163 redhotrox, Jan 20, 2013
  4. Icehouse

    Icehouse Member

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    From my understanding the team's valuation is $525M and they will pay 65% of that.

    So, if you were a minority owner and the team was moving to another city, would you sell your stake?
     
    #164 Icehouse, Jan 20, 2013
  5. J Sizzle

    J Sizzle Member

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    #165 J Sizzle, Jan 20, 2013
  6. Raven

    Raven Member

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    Will Sac keep the name?
     
    #166 Raven, Jan 20, 2013
  7. VBG

    VBG Member

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    I like the Seattle Supersonic Kings. Would be hilarious.
     
    #167 VBG, Jan 20, 2013
  8. redhotrox

    redhotrox Member

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    EDIT: Yeah, you're right.
    <blockquote class="twitter-tweet"><p>The $525 million price is a "valuation" on the total franchise. For 65 percent, Seattle group would pay approximately $340 million.</p>&mdash; Adrian Wojnarowski (@WojYahooNBA) <a href="https://twitter.com/WojYahooNBA/status/293219387891126272" data-datetime="2013-01-21T04:52:04+00:00">January 21, 2013</a></blockquote>
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    #168 redhotrox, Jan 20, 2013
    Last edited: Jan 20, 2013
  9. J Sizzle

    J Sizzle Member

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    I want them to either go back to the Sonics or go with a completely new team name. I love new teams in the league.
     
    #169 J Sizzle, Jan 20, 2013
  10. dk411

    dk411 New Member

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    It would be fitting since Seattle is in King County in Washington. However, I'm pretty sure they'll go back to using the Sonics. The Kings' name/logo would be staying in Sac-town.
     
    #170 dk411, Jan 20, 2013
  11. redhotrox

    redhotrox Member

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    <blockquote class="twitter-tweet"><p>The plan has always been for the franchise to reclaim the Sonics name upon returning to Seattle.</p>&mdash; Adrian Wojnarowski (@WojYahooNBA) <a href="https://twitter.com/WojYahooNBA/status/293215981864628224" data-datetime="2013-01-21T04:38:32+00:00">January 21, 2013</a></blockquote>
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    #171 redhotrox, Jan 20, 2013
  12. redhotrox

    redhotrox Member

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    <blockquote class="twitter-tweet"><p>NBA source says Sacramento Kings sale to Seattle group is signed &amp; sent to league.Maloofs will retain "small piece" of team.</p>&mdash; J.A. Adande (@jadande) <a href="https://twitter.com/jadande/status/293217174984732672" data-datetime="2013-01-21T04:43:16+00:00">January 21, 2013</a></blockquote>
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    <blockquote class="twitter-tweet"><p>Deal was struck in principle over weekend of Jan. 5-6, sources told Y! By then, Sacramento mayoral bid to find local group was too late.</p>&mdash; Adrian Wojnarowski (@WojYahooNBA) <a href="https://twitter.com/WojYahooNBA/status/293218371103756288" data-datetime="2013-01-21T04:48:02+00:00">January 21, 2013</a></blockquote>
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    #172 redhotrox, Jan 20, 2013
  13. VBG

    VBG Member

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    Odds that the Kings/Sonics get number 1 pick in the draft? hehe
     
    #173 VBG, Jan 20, 2013
  14. J.R.

    J.R. Member

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    <blockquote class="twitter-tweet"><p>So the Kings getting sold for 525M!! And the owners ain't making no money huh? What the hell we have a lookout for. Get the hell out of here</p>&mdash; LeBron James (@KingJames) <a href="https://twitter.com/KingJames/status/293219795552321536" data-datetime="2013-01-21T04:53:41+00:00">January 21, 2013</a></blockquote>
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    #174 J.R., Jan 20, 2013
  15. Icehouse

    Icehouse Member

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    LOL. Is that legit?
     
    #175 Icehouse, Jan 20, 2013
  16. ItsMyFault

    ItsMyFault Member

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    The Sonics are back.
     
    #176 ItsMyFault, Jan 21, 2013
  17. Exel

    Exel Member

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    That's awesome. My Sonics are back!!!! Can't wait to watch games live.
     
    #177 Exel, Jan 21, 2013
  18. tehG l i d e

    tehG l i d e Member

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    Fire sale of their roster?
     
    #178 tehG l i d e, Jan 21, 2013
  19. Kam

    Kam Member

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    Wonder if member number 9, Antisonic comes back.
     
    #179 Kam, Jan 21, 2013
  20. PhiSlammaJamma

    PhiSlammaJamma Member

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    Seattle has generally been good for the nba. Always put together a competitive team. But to let Kevin durant walk in exchange for this crew, shame. Seems like things could have worked out better.
     
    #180 PhiSlammaJamma, Jan 21, 2013
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